Plexus Corp. (PLXS) Rating Lowered to Neutral at J P Morgan Chase & Co

Plexus Corp. (NASDAQ:PLXS) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Tuesday.

Several other equities analysts also recently commented on PLXS. ValuEngine downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub downgraded Plexus Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and issued a $54.00 price objective on shares of Plexus Corp. in a research report on Tuesday, September 12th. Finally, Citigroup Inc. boosted their price objective on Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Plexus Corp. currently has a consensus rating of “Hold” and an average price target of $57.00.

Shares of Plexus Corp. (NASDAQ PLXS) opened at 59.09 on Tuesday. The stock has a market cap of $1.99 billion, a PE ratio of 19.95 and a beta of 0.95. Plexus Corp. has a one year low of $44.35 and a one year high of $59.55. The company’s 50-day moving average price is $53.64 and its 200-day moving average price is $53.27.

Plexus Corp. (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The business had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. Equities research analysts anticipate that Plexus Corp. will post $3.22 earnings per share for the current year.

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In related news, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $49.38, for a total value of $432,075.00. Following the sale, the chief accounting officer now directly owns 17,009 shares in the company, valued at $839,904.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ralf R. Boer sold 1,374 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $50.00, for a total value of $68,700.00. Following the completion of the sale, the director now owns 23,124 shares in the company, valued at $1,156,200. The disclosure for this sale can be found here. Insiders sold 90,180 shares of company stock worth $4,840,872 over the last quarter. 4.30% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Thrivent Financial For Lutherans lifted its position in shares of Plexus Corp. by 5.4% in the first quarter. Thrivent Financial For Lutherans now owns 19,050 shares of the technology company’s stock worth $1,101,000 after buying an additional 980 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Plexus Corp. by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,661,720 shares of the technology company’s stock worth $153,848,000 after buying an additional 95,203 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Plexus Corp. by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock worth $749,000 after buying an additional 150 shares in the last quarter. Swiss National Bank lifted its position in shares of Plexus Corp. by 2.0% in the first quarter. Swiss National Bank now owns 55,200

Several other equities analysts also recently commented on PLXS. ValuEngine downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub downgraded Plexus Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and issued a $54.00 price objective on shares of Plexus Corp. in a research report on Tuesday, September 12th. Finally, Citigroup Inc. boosted their price objective on Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Plexus Corp. currently has a consensus rating of “Hold” and an average price target of $57.00.

Shares of Plexus Corp. (NASDAQ PLXS) opened at 59.09 on Tuesday. The stock has a market cap of $1.99 billion, a PE ratio of 19.95 and a beta of 0.95. Plexus Corp. has a one year low of $44.35 and a one year high of $59.55. The company’s 50-day moving average price is $53.64 and its 200-day moving average price is $53.27.

Plexus Corp. (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The business had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. Equities research analysts anticipate that Plexus Corp. will post $3.22 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/10/plexus-corp-plxs-rating-lowered-to-neutral-at-j-p-morgan-chase-co.html.

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $49.38, for a total value of $432,075.00. Following the sale, the chief accounting officer now directly owns 17,009 shares in the company, valued at $839,904.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ralf R. Boer sold 1,374 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $50.00, for a total value of $68,700.00. Following the completion of the sale, the director now owns 23,124 shares in the company, valued at $1,156,200. The disclosure for this sale can be found here. Insiders sold 90,180 shares of company stock worth $4,840,872 over the last quarter. 4.30% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Thrivent Financial For Lutherans lifted its position in shares of Plexus Corp. by 5.4% in the first quarter. Thrivent Financial For Lutherans now owns 19,050 shares of the technology company’s stock worth $1,101,000 after buying an additional 980 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Plexus Corp. by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,661,720 shares of the technology company’s stock worth $153,848,000 after buying an additional 95,203 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Plexus Corp. by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock worth $749,000 after buying an additional 150 shares in the last quarter. Swiss National Bank lifted its position in shares of Plexus Corp. by 2.0% in the first quarter. Swiss National Bank now owns 55,200 shares of the technology company’s stock worth $3,191,000 after buying an additional 1,100 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Plexus Corp. by 2.4% in the second quarter. Great West Life Assurance Co. Can now owns 47,743 shares of the technology company’s stock worth $2,509,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Plexus Corp. Company Profile

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

Analyst Recommendations for Plexus Corp. (NASDAQ:PLXS)

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